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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: John Vosilla who wrote (43371)10/12/2005 5:04:36 PM
From: GST  Read Replies (1) of 110194
 
Hi John, I think stock markets 20% lower than today are baked in the cake -- and I agree that the bond bulls could find themselves more offside than that. It takes a while to get used to the idea that we have created such a large debt large service problem for ourselves. Some naively believe that an increase in US savings will come to the rescue in a recession -- but this is when the debts will really soar and savings will be even harder to generate in the USA as we stagger under the weight of debt service payments. Corporate America should find a single mother on welfare who is behind two months on rent with a couple of maxed out credit cards obtained during better times, and she should be hired to advise on how US consumers will respond to the coming crunch -- she is the future of a large swath of America -- the newly poor, juggling debts they cannot pay.
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